A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.
Read more about Flat Tax: Requirements For A Fully Defined Schema, Recent and Current Proposals
Famous quotes containing the words flat and/or tax:
“... we see the poor as a mass of shadow, painted in one flat grey wash, at the remote edges of our sunshine.”
—Albion Fellows Bacon (1865–1933)
“Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
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